HNA said to surrender Hong Kong office space it never used

(Sept 12): As HNA Group Co.’s global ambitions continue to shrink, so too does its need for office space.

The debt-laden Chinese conglomerate is surrendering eight floors of office space in Hong Kong’s business district that it never occupied, according to people familiar with the matter. Some of the floors in Three Exchange Square in Central are being marketed for new tenants, according to the people, who asked not be named because they’re not authorised to speak publicly.

HNA has sold more than US$17 billion ($23.4 billion) of assets this year to whittle down one of China’s largest debt piles. It’s jettisoned everything from its stake in Hilton Worldwide Holdings Inc. to undeveloped land near Hong Kong’s former airport. The embattled company is also said to be seeking a buyer for its container-leasing business Seaco, and planning to exit its entire holding in Deutsche Bank AG.

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